StockNews.com Initiates Coverage on The Dixie Group (NASDAQ:DXYN)

StockNews.com began coverage on shares of The Dixie Group (NASDAQ:DXYN) in a research note released on Tuesday morning. The brokerage issued a hold rating on the textile maker’s stock.

The Dixie Group Price Performance

Shares of NASDAQ DXYN opened at $0.51 on Tuesday. The firm’s 50-day simple moving average is $0.56 and its 200 day simple moving average is $0.63. The stock has a market cap of $7.87 million, a P/E ratio of -2.54 and a beta of 2.30. The company has a quick ratio of 0.91, a current ratio of 2.84 and a debt-to-equity ratio of 2.67. The Dixie Group has a fifty-two week low of $0.46 and a fifty-two week high of $1.36.

The Dixie Group (NASDAQ:DXYN) last issued its quarterly earnings results on Friday, March 8th. The textile maker reported $0.22 earnings per share for the quarter. The Dixie Group had a negative net margin of 0.98% and a negative return on equity of 3.19%. The company had revenue of $66.67 million during the quarter.

Institutional Trading of The Dixie Group

Hedge funds and other institutional investors have recently modified their holdings of the company. First Dallas Securities Inc. acquired a new position in The Dixie Group during the third quarter worth about $321,000. Two Sigma Securities LLC bought a new position in shares of The Dixie Group during the 2nd quarter valued at about $65,000. Virtu Financial LLC acquired a new position in shares of The Dixie Group in the 4th quarter worth approximately $35,000. Renaissance Technologies LLC raised its holdings in shares of The Dixie Group by 18.3% in the 4th quarter. Renaissance Technologies LLC now owns 140,500 shares of the textile maker’s stock worth $110,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in The Dixie Group by 2.9% during the third quarter. Vanguard Group Inc. now owns 550,669 shares of the textile maker’s stock valued at $594,000 after purchasing an additional 15,480 shares during the last quarter. Institutional investors own 40.00% of the company’s stock.

About The Dixie Group

The Dixie Group, Inc manufactures, markets, and sells floorcovering products to residential customers in North America and internationally. The company offers residential carpets, custom rugs, and engineered wood products under the Fabrica brand for interior decorators and designers, selected retailers and furniture stores, luxury home builders, and manufacturers of luxury motor coaches and yachts; and specialty carpets and rugs for the high-end residential marketplace, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand name through the interior design community and specialty floorcovering retailers.